Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's Hospitality Division is pleased to present for sale to qualified investors the Holiday Inn Express & Suites Elkhart-South, an IHG Hotel (‘Hotel’ or ‘Property’) located in Elkhart, Indiana. The IHG-branded Hotel is offered at $7,350,000 or $105,000 per key. The Holiday Inn Express & Suites Elkhart-South, an IHG Hotel, is a three-story hotel with 70 rooms, located at 3610 S Nappanee Street in Elkhart, Indiana. The Hotel is accessible from State Road 19-Elkhart and maintains various common area amenities, including a heated indoor pool, breakfast area, business center, and fitness center. All PTAC units have been replaced within the guest rooms. Holiday Inn Express & Suites Elkhart-South, an IHG Hotel, is located in Elkhart, Indiana, within the Elkhart-Goshen Metropolitan Statistical Area (MSA). Elkhart, known as the "RV Capital of the World," is a key hub for recreational vehicle manufacturing. The city also has a strong presence in musical instrument manufacturing, particularly brass, woodwind, and string instruments. Other notable industries include pharmaceuticals, electronic components, manufactured housing, and mobile homes. Nearby businesses include Bennington Pontoon Boats (9.5 miles), Forest River Incorporated (4.8 miles), Keystone RV (17.5 miles), Thor Motor Coach (7.8 miles), NIBCO Incorporated (5.6 miles), and Elkhart Brass Manufacturing (3.6 miles). Six higher education campuses are located in or near Elkhart, such as Indiana University South Bend (12.1 miles – enrollment over 4,600), Saint Mary’s College (20.4 miles), Bethel University (11.8 miles), Goshen College (13.3 miles), University of Notre Dame (16.4 miles – enrollment over 12,000), and Southwestern Michigan College (25.2 miles). The hotel is strategically located near several key leisure demand generators that attract a diverse range of visitors to the area. Attractions such as Ruthmere Campus (4.5 miles) and the Midwest Museum of American Art (3.7 miles) offer cultural and historical experiences. The RV/MH Hall of Fame and Museum (10.9 miles) draws enthusiasts from across the country, while the Elkhart County 4-H Fair (12.8 miles), one of Indiana's largest events, hosts over 200,000 visitors annually during its 9-day run. Other notable attractions include Ruthmere Mansion (4.5 miles), the Hall of Heroes Superhero Museum (5.8 miles), and the National New York Central Railroad Museum (4.2 miles), all offering unique experiences for various interests. The hotel is also within proximity to the Amish community, known for its charming shops, markets, and authentic experiences, including The Barns in Nappanee Home of Amish Acres (15.2 miles), which showcases local craftsmanship and culture. For family entertainment, Smiley’s Space Themed Adventure Park (11.2 miles) offers fun activities, while the Blue Gate Theatre (23.9 miles) has a 1,500-seat capacity and provides a venue for live performances. Elkhart, Indiana, is experiencing significant growth with key developments including the $7.3 million revitalization of the city’s entrance from the Indiana Toll Road, featuring improved sidewalks, lighting, and a new park. Voyant Beauty is expanding its aerosol manufacturing facility by 20,000 square feet, increasing production capacity and creating jobs. The South Main development will add mixed-use commercial and residential space, along with a plaza honoring a demolished mural. Additionally, Amazon is building a new 800,000 square foot fulfillment center, set to open in 2025, which will create more jobs and strengthen Elkhart’s logistics sector. In the past twelve months through August, the hotel achieved a 109 percent RevPAR penetration, maintaining over 100 percent in the prior two years. This consistent outperformance demonstrates strong operations, market demand, and competitive positioning, presenting a potential investor with a lucrative opportunity for increased profitability.